[DJP]

Hearing strong rumours that tax is coming back to Gambling. For the U20's, for every £1 you bet, about 10p will be tax.

[DJP]

Panic over. Doesn't seem like it will get the approval to do it. http://observer.guardian.co.uk/business/ st...1939557,00.html

The Government's drive to tempt online gambling firms to pay tax in Britain appears doomed as even ministers admit that the move is running into serious difficulties.
Treasury minister John Healey told tourism industry leaders at a briefing last week that the government is having problems fixing a tax rate to persuade online gambling firms, currently based in tax havens, to pay tax in the UK.

Benefits for gaming firms would be a kitemark from new industry regulator the Gambling Commission. But senior Whitehall officials now concede there is little chance that online firms will base themselves in the UK, as envisaged when the government argued for the liberalisation of tough gambling laws.

The Treasury must come up with a tax formula next year when the Gambling Act comes into being. A senior civil servant says gambling firms will make a 'commercial decision' as to whether they decide to move 'onshore'. But companies say they save huge sums by not having to pay corporation tax and VAT in jurisdictions like Gibraltar and Malta.
A possible compromise put forward by Ladbrokes is that the industry pay a proportion of turnover to be invested in a fund to treat gambling addicts in return for a British government kitemark.

John O'Reilly, head of Ladbrokes' internet division, said: 'The UK has a reputation for being really well regulated not just in gambling but in financial services and other sectors. A kitemark is a benefit I would want to pay for.'

Meanwhile, the wave of consolidation that many have predicted for the online gambling industry may be further off than has been previously suggested.

Industry insiders are playing down any imminent takeover, which could see Ladbrokes buy either PartyGaming, the biggest internet poker firm, or 888.com, the largest internet casino operator.

Talks have been held between representatives of the three parties but any deal would be months away.

Billions of pounds have been wiped off the share value of the internet gambling sector following the US government's decision to outlaw banks and credit card companies processing American punters' money. Most firms' revenues have shrivelled, sparking a desire to cut costs and pool assets.

[uberman]

Thank f**k for that, paying tax on a bet was a pain in the arse

[boardroomshuffler]

The Goverment know that all the companies will move abroad if they tried to bring back tax.

What they could do is try and re- introduce betting tax in Betting shops in the UK,

[orlandoblue]

boardroomshuffler, on Mar 5 2007, 09:18, said:

The Goverment know that all the companies will move abroad if they tried to bring back tax.

What they could do is try and re- introduce betting tax in Betting shops in the UK,

Get that deleted before someone thinks it is a good idea

[DJP]

boardroomshuffler, on Mar 5 2007, 09:18, said:

The Goverment know that all the companies will move abroad if they tried to bring back tax.

What they could do is try and re- introduce betting tax in Betting shops in the UK,

Doubt that would happen. As this will mean more people gambling from home, thus causing more gambling addicts. Also betting shops losing alot to online gambling, never mind further competition.